General Dynamics (NYSE:GD) Stock Unloaded Rep. Rick Larsen

Representative Rick Larsen (D-Washington) recently sold shares of General Dynamics Co. (NYSE:GD). In a filing disclosed on January 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in General Dynamics stock on January 7th.

Representative Rick Larsen also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Cintas (NASDAQ:CTAS) on 1/7/2025.
• Sold $1,001 – $15,000 in shares of Booz Allen Hamilton (NYSE:BAH) on 1/7/2025.
• Purchased $1,001 – $15,000 in shares of Alphabet (NASDAQ:GOOGL) on 1/7/2025.
• Sold $1,001 – $15,000 in shares of Comcast (NASDAQ:CMCSA) on 1/7/2025.
• Purchased $1,001 – $15,000 in shares of Broadridge Financial Solutions (NYSE:BR) on 1/7/2025.
• Purchased $1,001 – $15,000 in shares of Verisk Analytics (NASDAQ:VRSK) on 1/7/2025.
• Sold $1,001 – $15,000 in shares of UnitedHealth Group (NYSE:UNH) on 1/7/2025.

General Dynamics Trading Up 0.3 %

NYSE GD opened at $265.89 on Thursday. General Dynamics Co. has a 12 month low of $247.36 and a 12 month high of $316.90. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The company has a market cap of $73.11 billion, a PE ratio of 20.25, a PEG ratio of 1.62 and a beta of 0.61. The stock has a 50 day moving average of $275.30 and a 200-day moving average of $288.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The business had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.04 EPS. On average, equities research analysts anticipate that General Dynamics Co. will post 13.84 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a $1.42 dividend. The ex-dividend date is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.14%. General Dynamics’s dividend payout ratio (DPR) is 43.26%.

General Dynamics declared that its board has authorized a stock buyback program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the sale, the vice president now directly owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

Large investors have recently modified their holdings of the stock. Fifth Third Wealth Advisors LLC boosted its position in General Dynamics by 67.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after purchasing an additional 3,448 shares during the period. Olstein Capital Management L.P. grew its position in General Dynamics by 36.4% during the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock worth $4,533,000 after acquiring an additional 4,000 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in General Dynamics by 10.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after buying an additional 3,363 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in General Dynamics by 69.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock valued at $69,032,000 after purchasing an additional 107,095 shares during the period. Finally, Lummis Asset Management LP raised its holdings in General Dynamics by 32.6% in the 3rd quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock worth $3,133,000 after purchasing an additional 2,551 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

GD has been the subject of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of General Dynamics from $295.00 to $279.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Baird R W downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Barclays dropped their price target on shares of General Dynamics from $330.00 to $305.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Royal Bank of Canada lowered General Dynamics from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $330.00 to $290.00 in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, General Dynamics has an average rating of “Hold” and a consensus price target of $304.53.

About Representative Larsen

Rick Larsen (Democratic Party) is a member of the U.S. House, representing Washington’s 2nd Congressional District. He assumed office on January 3, 2001. His current term ends on January 3, 2025. Larsen (Democratic Party) is running for re-election to the U.S. House to represent Washington’s 2nd Congressional District. He declared candidacy for the primary scheduled on August 6, 2024. Since at least 2011, Larsen has been assigned to the Committee on Armed Services and the Committee on Transportation and Infrastructure. Larsen’s first position as an elected official was in 1998 as a member of the Snohomish County Council. Larsen earned his bachelor’s degree from Pacific Lutheran University. After earning his master’s degree in public affairs from the University of Minnesota, Larsen worked as the director of public affairs for the Washington State Dental Association and then as an economic development official with the Port of Everett. He went on to serve on the Snohomish County Council before seeking election to the U.S. House.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.